LatAm List – Stori, the Mexican digital banking startup, recently raised a $10M Series A led by Bertelsmann Investments and Source Code Capital, with previous investor Vision Plus Capital. The neobank also launched an inclusive digital credit card for customers.
The fintech is one of a growing group of startups that are helping the 60% of Mexicans who are currently unbanked with smart and digital solutions. Stori offers inclusive digital banking to Mexicans with an online account and, most recently, a credit card to allow Mexicans to easily move, spend, and save their money.
“We are very excited about Stori because we see the enormous Mexican market opportunity for using fintech technology to expand the financial coverage to millions of Mexican consumers,” commented William Zhao, Head of Fintech at Bertelsmann Investments.
The Mexican fintech market is increasingly attracting foreign investment as more startups emerge with a smart solution for real-time problems in Latin America.
This most recent funding from two Chinese VC firms will enable Stori to further develop its AI technology and grow its platform as it seeks to serve 100,000 customers in Mexico.
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